Khin Maung Nyo (Economics) - The economy of the people, the economy of the people

Author's order

I have been in charge of the “International Business” journal for almost 4 years. I have to collect manuscripts every week, write things, and write articles based on news, and I am quite handy. Among those handy articles are the articles that are written with great attention to detail on the opening page (page 3).

I once read a review of a book written as a summary of an article written as a headline. It was a superficial criticism, and it was outdated. Now that I am about to publish my articles, I suddenly remember that review. Was what I wrote a superficial criticism, or was it not in line with the current times and circumstances? I leave it to the readers to decide.

These articles were written with great difficulty. In addition to being able to write each week, it was also quite a struggle to decide what to write about this week. Now that I look back, I think about how much I wrote, and how I managed to write it.

The articles are about people, and I think to myself, how much do you understand about people? My environment is quite small. I would meet people in books more often. The venerable monks we respect are in the monastic community and learn about people. I have heard people say that they always meet people from the history of Buddhism. I am not that talented.

In fact, I understand that humans are economic beings. Economy is a broad term. It encompasses both their own economy and their own.

I am passionate about economics, and while studying economics, I learned a little about people. While studying people, I realized that business is a process that arises from the interaction between people. People cannot be separated from business, and business cannot be separated from people.

In these articles, I have written a lot about people I have met in the past and reviewed them. What I have seen, experienced, and analyzed may or may not be right. May or may not be wrong. May or may not agree with my views. May or may not disagree, because we are human beings...

I think that as a person, I know about people as much as an ordinary person can, and I think that the reader should not expect more than what a person sees.

There are people who want to be free. There are people who want to be safe. There are people who want to be independent. There are people who want to be dependent. The people I see and meet may not be the same as the people other people see. But they are also people.

People are interested in people. People are interested in the business world. So, just as we see business in people, we also see people in business. I think that people in business, and business among people, will be interested in all people who are inseparable from business. So, to share my perspective, I present “Business in People, People in Business”.

Theory

They talk and discuss various theories of economic development with postgraduate diploma students.

Usually, when we say "theory," we think of it as "concept" and not reality. There is a misconception that theory is one thing and reality is another. We tend to discriminate and see things differently.

In reality, theories are attempts to better understand the real situation, the realities, and the world.

Policies are based on theories. A theory is an attempt to systematically explain the interrelationships between constantly changing economic variables.

Here, economists are not omniscient, so they cannot collect and select all the variables and all the conditions. Some of the variables they select may be important variables, and some may be irrelevant variables.

And economists differ in their strengths and focus from one era to another. They also differ in their focus on the past, present, and future.

For example, there was an early belief that the market could and should be trusted for all economic activities, confidently, freely, and reliably. But later, they started relying on governance rather than the market. When they saw the weaknesses, they started talking about relying more on the market and relying on the private sector.

In other words, the extent to which the market and the state should be mixed is a matter that will never be fully discussed.

So, aren't there so many theories that they contradict each other? The listener also has the problem of how to do it.

It's true that there are many theories, and they are all different. But it's hard to say that they are contradictory.

Here we recall the story of the six blind Brahmins, “What is an elephant?” Each blind Brahmin could not fully describe what an elephant is, but they could roughly describe what its ears, tail, body, legs, tusks, and trunk were. If all six of them combined their answers, they would come up with a pretty close answer to what an elephant is.

Economic development theories are based on personal observations, so not all theories are perfect. They each have their own strengths and weaknesses. There is no universally accepted concept or theory. And we now have to factor in factors that were not considered before.

For example, economic development is not just about the economy. It is about many aspects, about many things. Now people understand that it needs to be multifaceted. Previously, they said that only the claws and talons of an elephant are important, and that writing is not enough. Now they are writing on a large scale. What they are writing on a large scale now will fade in the future.

The world is always changing, and so are our understandings. While theories vary and differ, there are also many points of agreement.

Each theory has its own beauty, so they are giving you something to take away if you can take it.

Writer, reader, organizer

On the day our journal is published, we eagerly await what our readers will say and what they will say. The audience's response is also very fast. As soon as the office opens, we receive a steady stream of telephone calls. There are some letters that we write and send, but those are few. Telephone calls are faster and more convenient in Yangon, right?

Our readers have pointed out that we have not noticed anything. We can fix it. We can make adjustments next week or the week after. It is not possible yet as much as we would like.

Most of the readers' responses are to tell the people in charge of the journal what they see, know, and experience, and what they want us to know. Few of them even intend to publish it on the page.

We were able to accommodate some requests. For example, we had to apologize to the advertisers because readers objected to our opening page, page 3, which fulfilled the advertisers' wishes. We feel very sorry to hear that our readers care about us and how much they value our pages.

Thank you. To be honest, writing an opening page is quite a challenge, and it takes a lot of effort. Sometimes I can write two or three articles in a day, and there are times when I have something to write, but I don't get to publish a single article for a month.

Another issue is that we cannot afford to do anything. They criticize that the paper is bad and the prices are going up. That is also true. We also control the quality of the paper as much as possible. Let's say the price is determined by the current distribution channel. Some hawkers will quote different prices, so there is one price in the city, one price in Shwegondaing, and one price in Hledan.